Binance Coin price sees retracement towards $22.00

The Binance Coin price line shows retracement across the $22.20 mark. The price peaked above the $22.80 level after stepping onto the price chart for the 21st of February with a bullish momentum from the previous day.

The cryptocurrency eventually came to a rest near the $22 mark after varying above the $22.20 level at the end of the day. The day saw a trading range of $21.7071020 — $22.9552922 for Binance Coin.

1-Day Binance Coin Price Analysis (21st February)

Binance Coin Price Chart

Binance Coin Price Chart by TradingView

The price line can be seen tracing over the price chart for the 21st of February, with ruffled price movements. The coin saw a bullish momentum before it entered the day’s chart. The bullish momentum continued with the new date and it led the coin across the $22.80 mark after it came rushing back below the $22.00 level.

The cryptocurrency showed a continued disheveled price trend above the $22.20 mark until it reached the day’s closing value of $21.9742050.

Binance Coin: Predictive Analysis

Binance Coin Featured Price Chart

Binance Coin Price Chart by TradingView

At the end of the day, the Relative Strength Index (RSI) can be seen converging below level 30.00 on the scale. The RSI has a closing value of 24.01.

The 20-Day Exponential Moving Average (EMA) was observed closing at $22.1035370, while at the same time, the 50-Day Moving Average (MA) was placed at $22.1692618.

As per a predictive analysis made by the trading view analyst hardyforky, the cryptocurrency is expected to go bullish, with its next initial target as $23.6 and a potential mid-term of $29. The coin seems to be following Bitcoin.

Featured Image by Joanna Kosinska.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan holds no liability towards any investments based on the information provided on this page.

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